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An overpriced project now
Posted on Nov 12, 2009 by X Qiu
Carabelle was initially sold at a relatively low price; at 650k, you can secure a 883sqft unit at more than 7th floor half a year ago. Now for a similar size unit, the price has risen by more than 150k, a 25% increase in price - 10% higher than the record islandwide 15.9% increase in private property price!!
I personally do not think that Carabelle is worth at the present situation, simply because of four main reasons:
1) The quality is rather bad; I was there for viewing and the main gate to each block of the condo is already rusting. Isn't it suppose to be a new condo?! The interior finishing: average to poor; for e.g. the wardrobes are make of un-lacquered inferior quality wood.
2) It is far away from shops, malls, public transport -- not much amenities there.
3) The expressway is in front of the condo; peace and quietness is not what you can expect in Carabelle. Location is not ideal.
4) Condo facilities are the norm, land space is average.
In short, the price of Carabelle now is definitely not justifiable. Should Singapore's economy takes a dip or any imposed correction takes place, buyers who buy Carabelle now could find their property value depreciate markedly. Everything is cyclical - things go up and down.
I was there ready to buy since that region is near my workplace; however, I was rather disappointed with the development.
The above are just my humble opinions.